Singapore-based Triple P Capital acquires insurance solutions provider Contemi

Singapore city-scape. Photo: Pixabay

Singapore-based private equity firm Triple P Capital has announced the 100 per cent acquisition of Contemi Group, an insurance IT solutions provider which mostly operates in Asia and Scandinavia, according to a release.

No financial details were disclosed.

“The most successful insurers today are consistently expanding their investments in IT, particularly around middle and front-end solutions and customized developments,” said Triple P Capital partner Allan Pedersen.

“These increased investments are vital for insurers to be able to take advantage of all the exciting new business, partnership and efficiency opportunities, new technology and changing customer habits are enabling. We found that Contemi has outstanding solutions and services for participating in this growth market for both Europe and Asia.”

Contemi was founded in Norway and the UK in 2001 and its clientele includes Trygg-Hansa, RSA, Codan, Vardia, WaterCircles, Gjensidige, Gabler and Singapore Life. Triple P Capital said it was also attracted by the startup’s strong presence in Asia, especially in the region’s emerging markets such as Vietnam.

Contemi expanded to Vietnam in 2011 where it today employs a team of 60 developers.

Singapore-based Triple P Capital was founded in 2014 by former AIG and Chandler Corporation executive Alexander Krefft, TPG and Samsung alum Allan Pedersen and former LeapFrog and AIG executive David Steel. It claims to be the first focused impact private equity fund dedicated to Southeast Asia.

Co-founder and partner David Steel previously told DEALSTREETASIA that it is on track to secure a final close for its $120-million Southeast Asia financial inclusion fund in early-2019.

Also Read:

Triple P Capital to close $120m Southeast Asia fund by early 2019

SG gamification startup The Praxis Company raises $3m from Triple P Capital 

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.